Highlights for the second quarter of 2022 include:

•Caterpillar ended the second quarter of 2022 with $6.0 billion of enterprise cash.

Highlights for the six months ended June 30, 2022 include:

•Total sales and revenues were $27.836 billion for the six months ended June 30, 2022, an increase of $3.060 billion, or 12 percent, compared with $24.776 billion for the six months ended June 30, 2021.

•Profit per share for the six months ended June 30, 2022, was $5.99 and, excluding the items in the table below, adjusted profit per share was $6.06. Profit per share for the six months ended June 30, 2021, was $5.33, and excluding the items in the table below, adjusted profit per share was $5.47.

•Enterprise operating cash flow was $2.5 billion for the six months ended June 30, 2022.

•Glossary of terms is included on pages 58 - 60; first occurrence of terms shown in bold italics.

•Information on non-GAAP financial measures is included on page 64.

•Certain amounts may not add due to rounding.

THREE MONTHS ENDED JUNE 30, 2022 COMPARED WITH THREE MONTHS ENDED JUNE 30, 2021

Sales were higher across the three primary segments.

Asia/Pacific sales increased 4 percent driven by favorable price realization and services, partially offset by unfavorable currency impacts, related to the Australian dollar and Japanese yen, and lower sales of equipment to end users.

Sales and Revenues by Geographic Region

1 Includes revenues from Machinery, Energy & Transportation of $108 million and $92 million in the second quarter of 2022 and 2021, respectively.

Short-term incentive compensation expense was about $500 million in the second quarter of 2022, compared to about $400 million in the second quarter of 2021.

Operating profit margin was 13.6 percent for the second quarter of 2022, compared with 13.9 percent for the second quarter of 2021.

Other Profit/Loss and Tax Items

?The provision for income taxes for the second quarter of 2022 reflected an estimated annual tax rate of 23.5 percent, compared with 26 percent for the second quarter of 2021, excluding the discrete items discussed below. The comparative tax rate for full-year 2021 was approximately 23 percent.

?Sales decreased in Asia/Pacific mainly due to lower sales volume and unfavorable currency impacts primarily related to the Japanese yen and Australian dollar, partially offset by favorable price realization. Lower sales volume was driven by lower sales of equipment to end users, primarily in China.

•Industrial - Sales were up due to higher sales volumes across all regions.

•Transportation - Sales increased in reciprocating engines aftermarket parts and rail services.

SIX MONTHS ENDED JUNE 30, 2022 COMPARED WITH SIX MONTHS ENDED JUNE 30, 2021

Sales were higher in the three primary segments.

Sales increased 27 percent in Latin America due to favorable price realization, services and higher sales of equipment to end users.

Sales and Revenues by Geographic Region

1 Includes revenues from Machinery, Energy & Transportation of $208 million and $176 million in the six months ended June 30, 2022 and 2021, respectively.

Operating profit margin was 13.6 percent for the six months ended June 30, 2022, compared with 14.5 percent for the six months ended June 30, 2021.

Corporate Items and Eliminations included corporate-level expenses, timing differences (as some expenses are reported in segment profit on a cash basis), methodology differences between segment and consolidated external reporting (the company values segment inventories and cost of sales using a current cost methodology), certain restructuring costs and inter-segment eliminations.

Other Profit/Loss and Tax Items

•Sales increased in Latin America primarily due to higher sales of equipment to end users and favorable price realization.

Construction Industries' profit as a percent of total sales was 16.8 percent for the six months ended June 30, 2022, compared with 18.6 percent for the six months ended June 30, 2021.

•Power Generation - Sales increased due to higher sales volume in small reciprocating engine applications.

•Industrial - Sales were up due to higher sales volumes across all regions.

•Transportation - Sales increased primarily in reciprocating engine aftermarket parts and rail services.

Additional information related to restructuring costs is included in Note 20 - "Restructuring Costs" of Part I, Item 1 "Financial Statements".

1.Adjusted Operating Profit Margin - Operating profit excluding restructuring costs as a percent of sales and revenues.

2.Adjusted Profit Per Share - Profit per share excluding restructuring costs.

4.Consolidating Adjustments - Elimination of transactions between Machinery, Energy & Transportation and Financial Products.

8.Dealer Inventories - Represents dealer machine and engine inventories, excluding aftermarket parts.

9.EAME - A geographic region including Europe, Africa, the Middle East and the Commonwealth of Independent States (CIS).

10.Earning Assets - Assets consisting primarily of total finance receivables net of unearned income, plus equipment on operating leases, less accumulated depreciation at Cat Financial.

14.Latin America - A geographic region including Central and South American countries and Mexico.

15.Machinery, Energy & Transportation (ME&T) - The company defines ME&T as Caterpillar Inc. and its subsidiaries, excluding Financial Products. ME&T's information relates to the design, manufacturing and marketing of its products.

16.Machinery, Energy & Transportation Other Operating (Income) Expenses - Comprised primarily of gains/losses on disposal of long-lived assets, gains/losses on divestitures and legal settlements and accruals.

19.Pension and Other Postemployment Benefits (OPEB) - The company's defined-benefit pension and postretirement benefit plans.

24.Services - Enterprise services include, but are not limited to, aftermarket parts, Financial Products revenues and other service-related revenues. Machinery, Energy & Transportation segments exclude most Financial Products revenues.

•The 364-day facility of $3.15 billion (of which $825 million is available to ME&T) expires on September 1, 2022.

•The five-year facility, as amended and restated in September 2021, of $4.62 billion (of which $1.21 billion is available to ME&T) expires in September 2026.

Our total credit commitments and available credit as of June 30, 2022 were:

For a discussion of recent accounting pronouncements, see Part I, Item 1. Note 2 - "New accounting guidance".

Reconciliations of adjusted results to the most directly comparable GAAP measures are as follows:

Reconciliations of ME&T free cash flow to the most directly comparable GAAP measure, net cash provided by operating activities are as follows:

695 $ 3,369 1 See reconciliation of ME&T net cash provided by operating activities to consolidated net cash provided by operating activities on pages 72 - 73.

We are providing supplemental consolidating data for the purpose of additional analysis. The data has been grouped as follows:

Consolidated - Caterpillar Inc. and its subsidiaries.

Consolidating Adjustments - Eliminations of transactions between ME&T and Financial Products.

Pages 66 to 73 reconcile ME&T and Financial Products to Caterpillar Inc. consolidated financial information. Certain amounts for prior periods have been reclassified to conform to the current period presentation.

Total liabilities and shareholders' equity $ 81,107 $

Cash flow from operating activities: Profit of consolidated and affiliated companies $ 3,210 $ 2,868

Payments on debt (original maturities greater than three months)

Payments on debt (original maturities greater than three months)

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